Private Equity
The institution approved a commitment to a private equity fund focused on the intellectual property of musical artists in August.
The new consultant will begin its new five-year contract in February.
The retirement system made four private equity commitments for pacing purposes at today’s board meeting.
The plan was informed of several new staff-delegated private commitments at its board meeting yesterday.
The plan will vote to go back to a former general investment consultant next week.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.
Global equity represents a new asset class for the retirement system.
Inclusion of more venture capital funds, which often have lower GP commitments, likely led to the drop.
The search will be opened to high-yield corporate debt, leveraged loans, securitized credit and convertible bond strategies.